Comprehensive credit reporting

In March 2014 we updated our Privacy Policy and Credit Reporting Policy to comply with the Privacy Act changes. An important update made to the Credit Reporting Policy was that we can disclose Comprehensive Credit Reporting (CCR) data, which includes the following credit related information, to your credit report:

• Information about your current consumer credit accounts with us including the type of credit, the credit limit, open and close date of the account(s);
• Information about whether your monthly repayments have been paid on time (allowing a 14-day grace period).

We have commenced sharing credit related information with credit reporting body/ies. We are initially sharing this credit related information with Equifax, however we may also disclose your credit related information to other credit reporting bodies. This information may not be immediately visible on your credit report, depending on when you have payments due, when your account was opened or closed, and when we send the information to the credit reporting body.

In addition to sharing your credit related information to the credit reporting body/ies, we will also be using CCR data to assess credit applications.
CCR enables credit providers to obtain a more comprehensive view of your financial position, helping us to lend more responsibly and more fairly.